Opens commercial access to the Israeli market

PharmaCielo receives ICANN G.A.P and GACP certifications

PharmaCielo Ltd. has received ICANN G.A.P and GACP certifications following the completion of an audit conducted on-site in Rionegro by the Institute of Quality and Control (IQC), the largest private certification body in Israel. PharmaCielo expects to be in a position to begin exporting dried flowers to Israel in early 2023.

Management commentary
Bill Petron, CEO of PharmaCielo, commented, "The receipt of ICANN G.A.P and GACP certifications from IQC is a significant milestone for PharmaCielo and is complementary to the previously obtained INVIMA GMP and SGS GACP certifications, which enable access to other highly regulated markets, such as Brazil. Israel represents a massive opportunity. The country has a large, rapidly growing patient population and relies heavily on imports. We expect that PharmaCielo's proprietary Colombian genetics will differentiate the company's offerings compared to the current product available in the Israeli market. Our team has already connected with some of the most important players in Israel, and we expect to begin shipping commercial quantities of dried flower in early 2023."

Mr. Petron continued, "Our team has done an impressive job of building a presence across several important jurisdictions over the past twelve months. With access to Israel, we are now active in thirteen markets. With  EU-GMP certification for the company's extracts expected in the near future and the process of obtaining EU-GMP certification for our dried flower products underway, we are positioning PharmaCielo to become a major global player in the medicinal cannabis market while continuing to build our customer base. We fully expect the next twelve months to be a pivotal period of growth and value creation for shareholders as we execute our strategy."

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